Russia unlocks crypto trading Nov. 17 — retail investors get a 300,000-ruble speed bump

The Bank of Russia has finalized rules allowing exchanges to offer Bitcoin ($BTC), Ethereum ($ETH) and Tether USDt (USDT) to retail investors starting Nov. 17. “From then on, exchanges will be authorized to admit these assets to public trading,” the central bank said in a release.

Under the rules, non-qualified investors can purchase up to 300,000 rubles (around $3,700) in cryptocurrency annually through each intermediary, including brokers, asset managers and crypto exchange providers. Qualified and institutional investors face no purchase limits, but all investors must pass a mandatory test before trading. Retail investors may buy the assets through brokers, managers or crypto exchanges.

The directive follows legislation signed by Russian President Vladimir Putin on Aug. 4, establishing a regulated cryptocurrency market under central bank oversight. The law took effect Sept. 1, while the Bank of Russia published draft regulations on Aug. 11. The bank subsequently authorized Sberbank, the country’s largest bank, to offer crypto exchange services in October.

Moscow Exchange, Russia’s largest securities exchange and a publicly traded company, is preparing to launch cryptocurrency trading on Dec. 1, initially offering the three cryptocurrencies through pilot transactions. The central bank’s rules also require eligible assets to meet criteria including market capitalization, average daily trading volume and at least five years of price history on foreign exchanges.

Russia is tightening controls outside regulated channels at the same time. Direct peer-to-peer crypto trading will be prohibited starting July 1, 2027, while transfers from regulated digital accounts to self-custody wallets are already banned. The country also maintains a prohibition on using cryptocurrency to pay for goods and services.